Stock Market Today: Stocks Mixed Before January CPI Report

blue stock market chart with red and teal bars and green moving average

(Image credit: Getty Images)

published 12 February 2024

Stocks looked like they were headed for a win Monday before a round of late-afternoon selling sent two of the three main benchmarks into the red by the close. Caution appears to be setting in ahead of Tuesday morning's key inflation update, particularly after recent data has signaled a resilient U.S. economy and lowered expectations for an interest rate cut at the next Fed meeting.

The Fed has indicated recently that it needs to see more evidence that the disinflation trend is intact before it starts cutting interest rates. Indeed, "the possibility of a March rate cut seems unlikely but coming into the summer months and back half of the year, we believe the disinflationary trend and other economic data will support such a decision," says Kevin Simpson, founder and chief investment officer at Capital Wealth Planning.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Topics

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.